Morocco's Foreign Minister Salah Al Din Mizwar will participate in the inauguration ceremony of the New Suez Canal on August 6.

A Moroccan delegation, Led by Mizwar, will attend the inauguration, head of the Egyptian media office in Rabat Mohamed Fatouh told MENA.

He said that the new Suez Canal will boost bilateral economic relations.

The Suez Canal will allow ships to sail in both directions at the same time over much of the canal's length. This is expected to decrease the waiting hours from 11 to 3 hours for most ships and to double the capacity of the Suez Canal from 49 to 97 ships a day.

Revenues from the Suez Canal would jump from 5 billion dollars to 12.5 billion dollars annually.

The construction of the new canal was initially scheduled to take five years. It was then first reduced to three years and finally ordered by President Abdel Fattah El Sisi to be completed in one year only.